The latest market insight by estate agent comparison site GetAgent.co.uk has revealed that property market optimism is high, with the majority of estate agents predicting that the improved market conditions seen in 2024 are set to continue.
GetAgent surveyed 747 estate agents to gauge their thoughts on the year ahead, as well as what they considered the biggest challenges for the property market in 2025.
The majority of agents (76%) said that the property market will continue to recover in 2025.
Mortgage approvals first hit the 60,000 monthly threshold back in February, and the latest Bank of England data showed that they have climbed consistently since March, hitting 68,303 in October.
Two-thirds (67%) said that this increasing level of buyer demand would continue in 2025, with more mortgages being approved.
The majority (64%) also expected an increase in sales volumes in 2025 versus 2024.
A further 69% expected house prices to climb in 2025, following months of consistent upward growth in 2024.
However, 67% of estate agents did suggest that the Stamp Duty Land Tax (SDLT) deadline at the end of March there will be a market correction.
When asked what they believed would be the biggest challenges for the market in 2025, ongoing affordability issues related to high house prices ranked top.
Mortgage rates remaining higher than previous years was the second biggest challenge the market faces for the year ahead, with a lack of supply to meet demand also expected to prove problematic.
Colby Short, co-founder and CEO of GetAgent.co.uk, said: “Market conditions have been far from ideal in 2024 and buyers, in particular, have continued to face a challenging landscape, with mortgage rates remaining significantly higher than they’ve become accustomed to in recent years.
“Despite this, it has been a year of overall positivity. We’ve seen an increase in buyer activity and property values have also increased, albeit at a more measured pace.
“The general consensus is that 2025 is set to bring more of the same, with the current market recovery set to continue.
“Of course, with another looming stamp duty deadline, we can expect a heightened level of activity in the short-term and this will almost certainly be followed by a period of correction as the market returns to normality.
“In the long-term, however, the outlook is a positive one.”
